Feauture request for Payroll: Multiple direct deposit accounts

[threebroscoffee]

In all payroll services I've worked with before, it is quite easy to set up multiple direct deposit accounts per employee. I don't see this in Square Payroll. Is there something I'm missing? Specifically, I would like to be able to deposit a fixed amount to one account, and the remaining amount to another (a very common thing...).

[#2]

At this time an employee can only link one bank account to Payroll. I'll share your interest in linking multiple bank accounts with the Product Team! 

Employees can add either a checking or a savings account to Payroll. Before adding a savings account your employee may want to call their bank to check that there aren't any restrictions on their savings account, i.e. they should make sure it can be set up to receive a direct deposit.

Also keep in mind online-only accounts are not supported.

[AshleyK]

Hey @HANDLAW thank you for sharing and adding your vote to this feature request. I will share your thoughts with our Development Team and be sure to follow this thread for any updates. Have a nice day! 🙂

[MDMasonry]

Please add me to the list of employers who is requesting this feature be added. I have been asked by my employees to split their pay checks between their checking and saving, at this time I am having to create two pay stubs for them and break the hours up between which account they want each amount to go into. Is there any time frame on when this feature will become available? 

[levassar]

Are you anywhere close to adding this feature?

[ashc]

Hi @levassar!
 

If we ever to implement this or have plans to- we'll be sure to update the thread! 

There's no timeframe to give at this moment. 

[planted]

We need this at our work also.  

[Joe]

Hi there, @planted 👋 Thanks for reaching out to us here on the Seller Community and adding your voice in support of this Feature Request. 

We will continue to push out new updates on this request as we receive them from our Product Teams. If you'd like more insight into how Feature Requests are approved and implemented, you can learn more here.

Thanks for your patience! Please don't hesitate to reach out if anything comes up.

[CPS-Milwaukee]

Has this feature been activated?

[thecreamerymm]

Currently there is no option to split a direct deposit between bank accounts. Employees must have their entire check deposited into one bank account.

I'd like the ability to add a 2nd bank account where some amount of their check (either a % or a flat $ amount) goes into the first account and the rest goes into a second account. 

I've got a coffee shop. All of my baristas are high school and college aged. Before moving to Square Payroll, I had a lot of them excited about investing. I helped them open Roth IRA's and then we had some money go into them each pay period. Now that they can only direct money to their checking account, not one of them has continued to invest...

***This is NOT a benefit request. A personal Roth IRA comes with a routing and account number just like a checking account. For your purposes this would be the same as a 2nd checking or savings account***

Thanks!

[thecreamerymm]

Hi there!

I have an ask that I'm pretty passionate about! My prior payroll company would allow my employees to direct $x.xx amount of their paycheck to one checking account and the rest to another account. Square Payroll does not.

USE CASE: One reason I opened my coffee shop was to be the first employer of kids in my community. About half of my baristas are high school kids. They're learning all kinds of lessons. One thing I've worked with them on is investing. Last year, three of them opened IRA's. They were NOT employer provided. They were individually owned. The IRA comes with a routing and account number just like a checking account. They directed the first $x.xx amount into their IRA and the rest into their checking. They had money going into their investment account EVERY SINGLE FRIDAY. Since I switched to Square Payroll last fall, not one of them has put a single dollar away... All of them have asked for this feature and I've made the request to Square several times but it hasn't happened yet. 

It's proven that the vast majority of people's investments came directly from their paycheck. When people have to log on after payday and move the funds themselves, it just doesn't happen.

Can we please please please make this happen! My first job was 30 years ago and every job I've ever had allowed me to split my deposit between two DDA accounts. I'd love for my employees to have the same option so they can start life on a sound financial footing!

Thanks!

Bryce

[ashc]

Hey @thecreamerymm,

I moved your post to an existing feature request thread for this.

I don't have a timeline if/when this would ever become available but the requests for it are tracked here.